On October 29, the Securities and Exchange Commission held a roundtable on mark-to-market accounting practices. It addressed the effects of mark-to-market accounting on the market and on the reporting practices of financial institutions, the usefulness of the practice, and how accounting standards can be improved. The roundtable was held in conjunction with a congressionally mandated study authorized under the Emergency Economic Stabilization Act of 2008 that will focus on the effects of mark-to-market accounting on the 2008 bank failures, the balance sheets of financial institutions and other related topics.

http://www.sec.gov/news/press/2008/2008-255.htm